January 27, 2022 10:47 ET | Source: Facts & Factors Facts & Factors
London, United Kingdom, Jan. 27, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Orthokeratology Market By Lens Type (Fluorosilicone Acrylate, Silicone Acrylate, Balafilcon, and Oprifocon A), By Application (Myopia, Presbyopia, Hyperopia, and Astigmatism), and By Distribution Channel (Hospitals, Optometry Clinics, Ophthalmology Clinics, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” in its research database.
“According to the latest research study, the demand of global Orthokeratology Market size & share was valued at approximately USD 2,100.4 Million and is likely to grow at a compound annual growth rate (CAGR) of 6.1% and is anticipated to reach around USD 3,510.4 Million by 2026.”
Orthokeratology is a type of procedure, which uses specifically designed contact lenses to reshape the cornea outline temporarily to reduce near-sightedness or myopia. In addition, it is a sort of non-surgical process that offers the benefit of reduced risk compared to refractive surgery. Ortho-k lenses are also called overnight contact lenses or corneal reshaping contact lenses to correct or control myopia and lenses are prescribed to correct refractive errors generally hyperopia, myopia, and astigmatism.
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Increases the Demand for Orthokeratology Boost the Market Growth
The growth of the global orthokeratology market can be attributed to the rising incidences of myopia and high myopia all around the globe. The incidence of myopia and high myopia is escalating across the globe at a major rate and is the leading cause of visual impairment globally. Also, the longer use of laptops, tablets, and smartphones is causing digital eye strain resulting in eye damage permanently in kids and the young population. This increases the demand for orthokeratology ultimately, propelling the expansion of the global orthokeratology market.
On the other hand, the onset of microbial keratitis, the lack of compliance to lens care treatment, the poor assistance of practitioners and wearers, the improper fitting procedures, more time-consuming processes, the loss to routine follow-ups, and the high treatment expenditure are some aspects that will probably hamper the market development in the near future.
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The global orthokeratology market has been classified into lens type, application, and distribution channel.
On the basis of the type of lens type, the global orthokeratology market has been classified into fluorosilicone acrylate, silicone acrylate, balafilcon, and Oprifocon A.
Based on the application, the global orthokeratology market has been divided into myopia, presbyopia, hyperopia, and astigmatism. In terms of distribution channel, the global orthokeratology market has been segmented into hospitals, optometry clinics, ophthalmology clinics, and others.
Myopia Expected to Account for the Largest Share Market Value by 2026
Myopia is predicted to continue to be a major driving force behind the demand for orthokeratology around the world. Myopia, which is expected to account for the largest proportion of the entire market value by 2026, will also present a significant amount of room for advancement.
Approximately one-third of 17-year-olds are myopic, according to the most recent Sydney Myopia Study. This is more than double the rate reported earlier by the Blue Mountain Eye Study, which was conducted more than a decade back.
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On the basis of region, the global orthokeratology market can be classified into North America, Asia-Pacific, Latin America, Europe, the Middle East, and Africa.
North America is Predicted to Lead the Global Market
North America is leading the global orthokeratology market owing to key factors such as the rising demand for ophthalmologists and the quick growth of childhood myopia in this region. Also, the continued funding in support of the development of novel products in the treatment of opthalmological conditions is fuelling the regional market expansion. The Europe orthokeratology market is anticipated to grow at a considerable growth rate as a result of the increase in the burden of short-sightedness among the people.
Asia-Pacific is likely to develop at a higher growth rate in the forthcoming years. This is due to the continued use of smartphones, laptops, and tablets among kids and the young population, which is causing digital eyes to strain, leading to permanent eye damage. Moreover, the rising cases of individuals with refractive faults like hyperopia, myopia, etc. is also likely to boost the regional market in the near future.
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This report segments the global orthokeratology market as follows:
By Lens Type Segment Analysis
By Distribution Channel Segment Analysis
Key Insights from Primary Research
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